Pink Pig Loans and Masthaven complete £1m bridging loan despite Land Registry obstacles

Pink Pig Loans has secured a £1m bridging facility from Masthaven Bank for a client looking to purchase a four-bedroom semi-detached home in Surbiton, south-west London.

The borrower was an 85-year old man looking to move home with his son, daughter-in-law and children.

The case had a number of obstacles to overcome, including getting the Land Registry details updated on the current home with a 48-hour turnaround, as some charges that were redeemed up to six months ago were still showing on the Land Registry.

Despite this, Pink Pig and Masthaven were able to complete the deal before the client’s deadline, with the £1m facility agreed at 54% LTV at a rate of 0.53%.

Luke Egan, director of bridging and development at Pink Pig Loans (pictured above), said: “This was a case which had to be turned around very quickly. 

“Masthaven was very good to deal with and not only provided the lowest rate, but also did everything possible to help us out at every point we encountered an obstacle. 

“This went a very long way to getting this deal done by the deadline.

“I worked closely with our adviser, Sarah Stroud, and we secured a great outcome for the client.”

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